DES MOINES, Iowa--(BUSINESS WIRE)--Berkshire Hathaway Energy (BHE) announced that it received notice July
25, 2014 from the CanadianMinister of Industry that its
acquisition of AltaLink has been approved under the Investment Canada
Act.

Consistent with its operating philosophy, BHE will invest in AltaLink,
Alberta and Canada for the long term. The announced undertakings are the
beginning of that long-term investment.

BHE has committed that AltaLink will remain locally managed and
incorporated under the laws of Canada, with its headquarters, senior
management team and operations located in Alberta. AltaLink’s
independent board of directors will also continue to be comprised of a
majority of Canadians. There will be no reductions in employment levels
at AltaLink as a result of the transaction.

BHE also made a series of additional commitments to Canada in connection
with the approval:

Reinvest 100 percent of AltaLink’s earnings back into AltaLink,
elsewhere in Alberta or other regions of Canada. This commitment will
support AltaLink’s C$2.7 billion investment in Alberta’s energy
infrastructure planned over the next three years, subject to continued
oversight by the Alberta Utilities Commission and the Alberta Electric
System Operator.

Spend at least C$27 million to pursue joint development opportunities
with Canadian partners in Canada and the U.S.

Invest at least C$3 million of new funds to support Alberta-based
academic programs focused on energy-related topics, cultural
organizations and community-based programs.

Maintain AltaLink’s commitment to provide C$3 million over three years
in community and charitable contributions across Alberta.

Share best practices, at no cost, with AltaLink on safety, customer
satisfaction, cybersecurity and supplier diversity.

Provide opportunities for Albertan and other Canadian companies to
supply products and services to other BHE businesses.

The purchase of AltaLink continues to be subject to customary closing
conditions, including the required approval by the Alberta Utilities
Commission. The transaction is expected to be completed by the end of
2014.

Berkshire Hathaway Energy

Berkshire Hathaway Energy owns a portfolio of locally managed businesses
that share a vision for the energy future, make sustainable investments
to achieve that vision, and had $70 billion of assets as of Dec. 31,
2013. These businesses deliver safe, reliable service each day to more
than 8.4 million customers and end-users around the world and
consistently rank high among its peers in customer satisfaction.
Berkshire Hathaway Energy is headquartered in Des Moines, Iowa, U.S.A.
Learn more and see a complete list of our businesses at www.berkshirehathawayenergyco.com.